Adani Enterprises Limited has announced the divestment of its joint venture stake through its wholly owned subsidiary, marking a strategic restructuring of its business portfolio. The transaction was completed on March 2, 2026, involving the sale of the company's entire stake in Praneetha Ecocables Limited.

Transaction Details

Kutch Copper Limited (KCL), a wholly owned subsidiary of Adani Enterprises, divested its complete 50% shareholding in Praneetha Ecocables Limited (PEL) on March 2, 2026. The company received intimation of the transaction at 5:27 P.M. IST on the same day, with PEL ceasing to be a joint venture of KCL.

Financial Performance of Divested Entity

Praneetha Ecocables Limited showed minimal financial activity in the previous financial year. The company's financial position as on March 31, 2025, reflected no operational income or net worth.

Buyer Information and Related Party Aspects

Praneetha Ventures Private Limited (PVPL) acquired the divested stake and now holds 100% ownership in PEL. The company clarified that PVPL does not belong to the promoter or promoter group of Adani Enterprises. However, both PVPL and PEL are described as part of business adjacencies and ecosystem, similar to other AEL businesses such as the vendor ecosystem for Adani New Industries Limited.

The transaction was identified as a related party transaction, with PVPL being a related party of KCL. Adani Enterprises confirmed that the divestment was conducted on an arm's length basis, ensuring compliance with regulatory requirements.

Regulatory Compliance and Disclosure

The divestment was disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal intimation was sent to both BSE Limited and National Stock Exchange of India Limited, with comprehensive details provided as required under SEBI Listing Regulations and SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.

The completion of this divestment represents a strategic business decision by Adani Enterprises to optimize its subsidiary portfolio and joint venture arrangements, with full regulatory compliance maintained throughout the process.

Adani Enterprises Limited has issued a correction notice to stock exchanges regarding the execution date of a Share Purchase Agreement involving its defense subsidiary. The clarification was submitted to both BSE Limited and National Stock Exchange of India Limited on March 2, 2026.

Agreement Details and Correction

The correction pertains to a Share Purchase Agreement between Adani Defence Systems & Technologies Ltd (ADSTL), a wholly owned subsidiary of Adani Enterprises Limited, and Punj Lloyd Aviation Ltd (PLAL). The company has clarified that the actual execution date should be February 28, 2026, instead of the previously communicated date of March 1, 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events and corporate developments that could impact investor decisions.

The correction notice was signed by Jatin Jalundhwala, Company Secretary & Joint President (Legal), with membership number F3064. The document was digitally signed on March 2, 2026, at 15:38:41 +05'30'.

Company Information

Adani Enterprises Limited operates from its corporate headquarters at "Adani Corporate House" in Shantigram, Ahmedabad, Gujarat. The company maintains transparency in its corporate communications and ensures timely disclosure of material information to stakeholders and regulatory authorities.